Trending in tandem with the US domestic wire rod market, the US import market continues to be defined by weak demand and relatively steady prices. However, unlike predictions for softened US domestic wire rod prices in the near-term, trader sources tell SteelOrbis they don’t expect import wire rod offers to drift downward, as the spread between them and US spot prices is still wide.
Current US import wire rod offers from Germany are unchanged this week at $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports. And while SteelOrbis previously reported Australian offers around the level of $33.00 cwt. ($728/mt or $660/nt) DDP loaded truck in US Gulf ports, sources say offers have become quiet. Another source mentioned possible offers from Malaysia, but nothing concrete, noting high ocean freight costs from the country are a mitigating factor. Lastly, sources note new offers from Mexico, which are reportedly “comparable” to German offers, although closer to the higher end of the German range.